Curated & Edits
By
Vishal Bhidu
The 11th Social Sciences International Research Conference (SSIRC 2026), spanning September 8-11, brings together researchers, academics, practitioners, and community stakeholders to exchange scholarly insights, empirical evidence, and professional experience across diverse thematic tracks.
The three-day conference, themed ‘Reimagining social sciences research through evidence, experience and engagement ’, brings to light 121 presentations across 10 thematic disciplines, such as the need for multidisciplinary, evidence-based research, responsible use of Artificial Intelligence (AI), stronger international academic collaboration and research that informs policymaking and delivers tangible benefits to society.
In a keynote address, Governor at the Bank of Mauritius, Dr Priscilla Muthoora-Thakoor emphasised the unprecedented times we live in, with socio-economic and technological transformation defined as profound as fast paced while uncertainty is emerging as the defining feature.
“Yet, there is a sense in which economic policymakers confront the same fundamental challenge that their predecessors have always faced: how to promote stability, prosperity, and opportunity in a world which is constantly evolving. The instruments change, but the responsibility does not,” she underlined.
She underlined the three principles, starting with the first one to be discussed: the budget constraint is always binding, which often tells how the present value of lifetime consumption cannot exceed the present value of lifetime resources. For every household, there is an understanding that borrowing today creates obligations for tomorrow, which she says also holds true in different ways for firms and governments, where the latter borrow to finance investment or shock response, but over time debt must be serviced through future income, taxation or the sale of assets.
“Central banks have the benefit of a clear mandate and a policy framework to inform and guide their policies, but these are not always well understood by all stakeholders,” she added.
The Governor enumerated the second principle rooted in human behavior: people respond to incentives. “The success of policies, regulations, and social programmes depend as much on their design as on how individuals and institutions respond to them. The response itself may be based on perceptions rather than facts. Yet, perceptions can still powerfully influence decisions and, in turn, shape economic outcomes.”
This is something, she says, central banks encounter very frequently in terms of inflation expectations, the demand for higher wages, or driving prices in anticipation, leading to a need to act early on inflation.
Governor Muthoora-Thakoor comes to the final enduring principle: institutions matter. She explains, “Douglass North demonstrated how institutions shape incentives and economic outcomes over time. Daron Acemoglu, Simon Johnson and James A. Robinson have shown that differences in countries’ growth trajectories often owe less to geography, size or culture than to the quality and inclusiveness of their institutions. Francis Fukuyama, meanwhile, has reminded us that good institutional design is necessary but not sufficient. Institutions must also be able to execute their mandates effectively. This idea underpins efforts to bolster central banks’ independence and improve their policy communications in many countries.”
Climate-related disruptions remain another challenge, felt through more frequent extreme weather events, pressures on agricultural production, along with increased food volatility and energy prices.
She further emphasised, “At the same time, the transition to a lower-carbon economy is reshaping investment patterns and creating new opportunities for innovation and growth. The 2026 World Bank’s Country Climate and Development Report for Mauritius notes that investing in renewable energy and optimising marine resources in a sustainable manner could create up to 32,000 jobs by 2030. For policymakers, the challenge is to support the transition while preserving economic and financial stability and avoiding greenwashing.”
The Governor also mentions the evolving landscape where, for several decades, globalisation was marked by expanding trade, deeper market integration and increasingly efficient supply chains. She argued that while such forces remain important, there is strategic competition and concerns reigning over economic security, with greater emphasis on resilience alongside efficiency, especially for small open economies such as Mauritius, navigating this changing environment which calls for openness while adapting to greater fragmentation and uncertainty.
“There is a development whose pace distinguishes itself from the rest: Artificial Intelligence. Demographic shifts unfold over decades, climate transitions over years, and geopolitical realignments over policy cycles. Artificial intelligence, by contrast, is capable of transforming economic activity within remarkably short periods of time. Its ultimate impact remains uncertain, but its potential to reshape productivity, employment, and business models is difficult to ignore.”
These developments, taken together, reminds that the future economy will not be shaped by any single trend and rather by the interaction of several profound transformations. In a context where an ageing world is confronting climate pressures and transitions unfolding itself in a more complex geopolitical environment, technology change is accelerating at an unprecedented pace, says the Governor.
Dr Priscilla Muthoora Thakoor underlined three-fold challenges for policymakers:
- First, they must manage the known realities of today. This requires maintaining sound macroeconomic fundamentals, preserving price stability, safeguarding financial stability and ensuring fiscal sustainability. These foundations remain indispensable, regardless of how the world evolves.
- Second, policymakers must prepare for emerging trends whose direction is broadly understood even if their ultimate consequences remain uncertain. It implies investing in human capital, strengthening resilience to climate risks, and fostering an environment that supports innovation and adaptation.
- Third, policymakers must cultivate agility. In a world characterised by uncertainty, flexibility becomes essential. Policies should be robust across a range of scenarios rather than narrowly optimised for a single forecast. Importantly, institutions must be capable of learning and adapting as new information emerges. These approaches underpin much of our work at the Bank of Mauritius, including the assessment of the monetary policy stance, financial stability risks, and the effects of climate shocks on the economy. Through regular dialogue with academia, other central banks, international organisations, and global standard setters, we seek to continuously adapt our policies and frameworks to bring them in line with evolving best practice.
